Abu Dhabi National Energy Company (TAQA) has secured the requisite parliamentary approval and signing financing arrangements for the 110 MW expansion of the gas-fired Takoradi 2 (T2) power plant in Ghana.
The expansion project will convert the existing plant to operate as a CCGT power plant increasing its output from 220 MW to approximately 330 MW without requiring additional fuel, therefore adding 50% more capacity without increasing CO2 emissions. The additional energy will be sold via an existing off-take agreement with Volta River Authority (“VRA”), under the terms of a revised 25-year power purchase agreement effective from commercial operations date (COD).
The T2 power plant is owned by Takoradi International Company LLC (TICO), a joint venture between TAQA (90%) and VRA (10%), the main generator and supplier of electricity in Ghana. TAQA is the operator of the facility through its wholly owned subsidiary TAQA Generation International Operating Company LLC. The expansion is expected to be commissioned in 2015. The EPC contract with an approximate value of $260m has been awarded to Mitsui & Co (Japan) and KEPCO E&C (Korea) in 2011. Construction will start later this month (July 2012).